07 Apr , 2025 By : Debdeep Gupta
Puravankara's share price touched a 52-week low of Rs 214.80 in the opening trade on April 7 despite the company's subsidiary receiving a project worth Rs 118.63 crore.
At 09:36 am, Puravankara was quoting at Rs 215.95, down Rs 22.70, or 9.51 percent, on the BSE.
Starworth Infrastructure and Construction, a wholly owned subsidiary company, has received a Letter of Intent (LOI) from Ranka Properties for a project “Ranka Ankura” for Rs 1,18,63,32,966.
In the month of February, Puravankara has increased its shareholding in Sobha Puravankara Aviation (SPAL) to 89.49 percent from 49.95 percent, on acquiring 37,80,000 equity shares (39.54%) of SPAL held by Sobha Projects and Trade.
In January, the company launched a project, 'Purva Atmosphere' in Keshav Nagar, Pune, spread across 10 acres with 70% open spaces.
Market capitalisation stands at Rs 5,121.25 crore.
The share price declined more than 59 percent in nine-month.
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